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"- TF funds trade diversified portfolios and make the bulk of their money in a small subset of the portfolio. These gains pay for the chop encountered over the rest of the portfolio. I reckon portfolio management theory is improving. Which leads me nicely onto... - One point that has...

had a mate at candlestick, contract a mile thick, boiled down to basically you had to put up 10k to cover your losses, they took no risk. these places are just brokers. ever traded at refco...?

In my opinion also they look shocking on CV' swhen you leave or are fired and want a job at a bank. Also, you'll find it very hard to sit and do a "normal" job, like risk, structuring, etc as they all seem so boring compared to the interest of trading. I was at refco, the amount of people on the...

Keep well away from refco...people breathing down your neck all the time, rubbish split, people haemorraging left right and centre. not particularly cheap either.

Posted on another forum also, what are peoples thoughts... The real questions here are... 1. Just how bad do prop shops look on a CV when trying to move to a banks trading desk. 2. How do you go about getting a job at a bank trading, if you aren't a Phd or programmer.

The other thing that really makes a huge difference is that if you have a bad couple of months at a prop shop, and best case break even after costs and desk, you can't draw any money. Unless you have some reserves, but then you start dwindling those as well. The real questions here are...

"So, you're telling me that in instances where a trader went to a prop firm, put up money in order to buy leverage, that they let him lose more than his initial deposit? Impossible." Absolutly not. At many futures prop shops, loads and loads of the traders are £10-100k down. The firms don't...